In a move similar to a Marx Brothers scene, (you know, the one where all four brothers are in a line shaking hands, affirming each other while Harpo is honking all the way) the European Central Bank along with the (U.S.) Federal Reserve, the Bank of England, the Bank of Japan and the Swiss National Bank decided to make Dollars available to help liquidity in banking through the end of the year. With current debt crisis on both sides of the Atlantic obtaining US currency has become difficult at best.
This move helped boost stocks in the short term along with Germany & Frances assurances to keep Greece in the EU continuing to drive investors into higher risk assets. This is most likely a short term issue as many are in denial of the severity of the Debt Crisis. It’s the denial stage that’s taken hold of all the markets—(a belief) that everything’s going to be fine, the EU and U.S. leaderships can manage to put their economies to rights, said VM Group analyst Carl Firman on CNBC. He further added, I don’t think that is the case, and I think it’s only a matter of time before that comes home to roost. The gold price is probably going to benefit from that.
Now is the perfect time to continue your acquisitions of rare coins and precious metals. We recommend buying in the dips such as is available today because the pressures on metals will continue to drive them forward through the end of the year. Make sure you have a conservative 10% to aggressive 20% of your total net worth in a Tangible Asset Portfolio consisting of Gold, Silver, & Rare Coins. This will insure your finances from the oncoming economic meltdown.